Five wrong notions have encouraged Asia and America to misdiagnose Europe’s ailments, Indermit Gill writes. And although Europeans need to make big changes, he believes the EU’s economic model can still be made to work
Europe has been getting a bad press. The Greeks and the Italians have been excoriated for endangering the euro, and Iceland, Ireland, Portugal and Spain have been criticised for their reckless financial policies. Endless summitry in Brussels hasn’t helped. Europe is increasingly seen by Americans and Asians as sluggish, even spoilt. Five wrong notions that have led to this misdiagnosis.